Glean, a conversational search platform for businesses, announced that it has received more than $260 million in investment at a valuation of $4.6 billion.
Glean, a conversational search platform for businesses, announced that it has raised more than $260 million at a valuation of $4.6 billion. The Series E round comes less than seven months after a round that valued the company at $2.2 billion.
The round was co-led by Altimeter Capital Management and DST Global, with participation from new investors Craft Ventures, Sapphire Ventures and SoftBank Vision Fund 2. Existing investors participating in the round were Coatue Management, General Catalyst, ICONIQ Growth, Institutional Venture Partners, Kleiner Perkins, Lightspeed Management Company and Sequoia Capital.
According to the company’s CEO Arvind Jain, Glean currently has more than $550 million in cash. The company has tripled its annual recurring revenue rate in the last 12 months and employs more than 500 people worldwide.
Glean’s production AI platform differs from consumer-focused services like OpenAI’s ChatGPT in that it includes features specific to business scenarios. These features include the ability to accept multi-step prompts that automate complex workflows and access popular enterprise applications through more than 100 connectors.
The platform also includes access permissions in the search results, presenting only the information that the employee is entitled to see. It also takes into account job descriptions and projects to tailor results to the user’s interests.
The company recently integrated its technology with Zendesk and Salesforce customer service applications, enabling customer support agents to track information more quickly and establish follow-up communications with customers.
